{"id":815508,"date":"2025-02-20T08:05:12","date_gmt":"2025-02-20T13:05:12","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/eagle-point-credit-company-inc-announces-fourth-quarter-and-year-end-2024-financial-results\/"},"modified":"2025-02-20T08:05:12","modified_gmt":"2025-02-20T13:05:12","slug":"eagle-point-credit-company-inc-announces-fourth-quarter-and-year-end-2024-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/eagle-point-credit-company-inc-announces-fourth-quarter-and-year-end-2024-financial-results\/","title":{"rendered":"Eagle Point Credit Company Inc. Announces Fourth Quarter and Year-End 2024 Financial Results"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwblockalignl { margin-left: 0px; margin-right: auto }\n.bwcellpmargin { margin-bottom: 0px; margin-top: 0px }\n.bwleftsingle { border-left: solid black 1pt }\n.bwlistcircle { list-style-type: circle }\n.bwlistdisc { list-style-type: disc }\n.bwpadb3 { padding-bottom: 4px }\n.bwpadl0 { padding-left: 0px }\n.bwpadr0 { padding-right: 0px }\n.bwrightsingle { border-right: solid black 1pt }\n.bwrowaltcolor1 { background-color: #d3d3d3 }\n.bwsinglebottom { border-bottom: solid black 1pt }\n.bwtablemarginb { margin-bottom: 10px }\n.bwtopsingle { border-top: solid black 1pt }\n.bwvertalignm { vertical-align: middle }\n.bwwidth100 { width: 100% }\n.bwwidth25 { width: 25% }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Eagle Point Credit Company Inc. Announces Fourth Quarter and Year-End 2024 Financial Results<\/b><\/p>\n<p>GREENWICH, Conn.&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nEagle Point Credit Company Inc. (the \u201cCompany\u201d) (NYSE: ECC, ECCC, ECC PRD, ECCF, ECCU, ECCV, ECCW, ECCX) today announced financial results for the quarter and fiscal year ended December 31, 2024 and certain additional activity through January 31, 2025.\n<\/p>\n<p>\n\u201cWe remain proactive in managing our portfolio and balance sheet,\u201d said Thomas P. Majewski, Chief Executive Officer. \u201cDuring the fourth quarter, we reset 16 and refinanced 2 of the Company\u2019s CLO investments, lengthening the weighted average remaining reinvestment periods of the reset CLOs and lowering the cost of debt financing in all 18 CLOs. By exercising our majority rights, we are laying the foundation for the portfolio to further enhance its net investment income in 2025 and beyond.\u201d\n<\/p>\n<p>\n\u201cWe have also been active in managing the Company\u2019s balance sheet through our \u2018at-the-market\u2019 program by selectively issuing common stock at a premium to NAV, which generated $0.05 per share of NAV accretion,\u201d added Mr. Majewski. \u201cIn addition, we have continued issuance of our Series D and Series AA\/AB perpetual preferred stock, which we consider to be a unique competitive advantage over other traded CLO funds.\u201d\n<\/p>\n<p><b>FOURTH QUARTER 2024 RESULTS<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nNet asset value (\u201cNAV\u201d) per common share of $8.38 as of December 31, 2024, compared to $8.44 as of September 30, 2024.\n<\/li>\n<li>\nNet investment income (\u201cNII\u201d) of $0.24 per weighted average common share, which is net of a non-recurring expense of $0.03 per share related to the issuance of the Company\u2019s 7.75% Notes due 2030 (the \u201cECCU Notes\u201d).<sup>1,2<\/sup> NII less realized capital losses was $0.12 per weighted average common share.<\/p>\n<ul class=\"bwlistcircle\">\n<li>\nRealized capital losses of $0.14 per weighted average common share were a result of the writedown of amortized cost to fair value for eight late-in-life collateralized loan obligation (\u201cCLO\u201d) equity positions. The writedowns were reclassifications of unrealized depreciation to realized losses and did not have a meaningful NAV impact. Excluding the reclassifications, the Company realized capital gains of $0.02 per weighted average common share from sales of appreciated investments and repayments.\n<\/li>\n<\/ul>\n<\/li>\n<li>\nNII less realized capital losses of $0.12 per weighted average common share compares to $0.23 of NII less realized capital losses per weighted average common share for the quarter ended September 30, 2024, and $0.33 of NII and realized capital gains per weighted average common share for the quarter ended December 31, 2023.\n<\/li>\n<li>\nGAAP net income (inclusive of unrealized mark-to-market appreciation) of $45.3 million, or $0.41 per weighted average common share.\n<\/li>\n<li>\nReceived $82.0 million in recurring cash distributions<sup>3<\/sup> from the Company\u2019s investment portfolio, or $0.74 per weighted average common share, exceeding the Company\u2019s aggregate distributions on its common stock and operating costs for the quarter.\n<\/li>\n<li>\nDeployed $223.5 million in net capital into CLO equity, CLO debt, loan accumulation facilities and other investments. The weighted average effective yield of new CLO equity investments made by the Company during the quarter, which includes a provision for credit losses, was 17.8% as measured at the time of investment.\n<\/li>\n<li>\nAs of December 31, 2024:<\/p>\n<ul class=\"bwlistcircle\">\n<li>\nThe weighted average effective yield of the Company\u2019s CLO equity portfolio (excluding called CLOs), based on amortized cost, was 14.61%. This measure is consistent with September 30, 2024 and compares to 16.70% as of December 31, 2023.<sup>4<\/sup><\/li>\n<li>\nThe weighted average expected yield of the Company\u2019s CLO equity portfolio (excluding called CLOs), based on fair market value, was 19.31%. This compares to 21.21% as of September 30, 2024 and 27.10% as of December 31, 2023.<sup>4<\/sup><\/li>\n<\/ul>\n<\/li>\n<li>\nCompleted an underwritten public offering, including a full exercise of the underwriters\u2019 overallotment option, of $115.0 million in aggregate principal amount of the ECCU Notes, resulting in net proceeds to the Company of approximately $111.0 million.\n<\/li>\n<li>\nIssued approximately 5.2 million shares of common stock, approximately 1.0 million shares of 6.75% Series D Perpetual Preferred Stock (the \u201cSeries D Preferred Stock\u201d) and 140,574 shares of 8.00% Series F Term Preferred Stock (the \u201cSeries F Term Preferred Stock\u201d) pursuant to the Company\u2019s \u201cat-the-market\u201d offering program for total net proceeds of approximately $71.5 million. The common stock issuance resulted in $0.05 per share of NAV accretion during the quarter.\n<\/li>\n<li>\nIssued 794,892 shares of Series AA and 100,586 shares of Series AB 7.00% Convertible and Perpetual Preferred Stock (the \u201cConvertible Perpetual Preferred Stock\u201d) for total proceeds of $20.3 million pursuant to the Company\u2019s continuous offering of Convertible Perpetual Preferred Stock.\n<\/li>\n<li>\nAs of December 31, 2024, the Company had debt and preferred equity securities outstanding which totaled approximately 38.0% of its total assets (less current liabilities).<sup>5<\/sup><\/li>\n<li>\nAs of December 31, 2024, on a look-through basis, and based on the most recent CLO trustee reports received by such date:<\/p>\n<ul class=\"bwlistcircle\">\n<li>\nThe Company, through its investments in CLO equity securities, had indirect exposure to approximately 1,895 unique corporate obligors.\n<\/li>\n<li>\nThe largest look-through obligor represented 0.5% of the loans underlying the Company\u2019s CLO equity portfolio.\n<\/li>\n<li>\nThe top-ten largest look-through obligors together represented 4.8% of the loans underlying the Company\u2019s CLO equity portfolio.\n<\/li>\n<li>\nThe look-through weighted average spread of the loans underlying the Company\u2019s CLO equity portfolio was 3.49%, down 5 basis points from September 2024.\n<\/li>\n<\/ul>\n<\/li>\n<li>\nGAAP net income was comprised of total investment income of $49.5 million, total net unrealized appreciation on investments of $21.8 million and unrealized depreciation on certain liabilities held at fair value of $11.2 million, partially offset by realized capital losses of $13.7 million, financing costs and operating expenses of $22.8 million and distributions and amortization of offering costs on temporary equity of $0.7 million.\n<\/li>\n<li>\nRecorded other comprehensive loss of $4.4 million.\n<\/li>\n<\/ul>\n<p><b>FULL YEAR 2024 HIGHLIGHTS<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nFor the fiscal year ended December 31, 2024, the Company recorded GAAP net income of $80.3 million. Fiscal year GAAP net income was comprised of total investment income of $179.8 million, total net unrealized appreciation on investments of $3.4 million and net unrealized depreciation on certain liabilities held at fair value of $5.4 million, partially offset by realized capital losses of $29.8 million, financing costs and operating expenses of $73.3 million and distributions and amortization of offering costs on temporary equity of $5.2 million.\n<\/li>\n<li>\nRecorded other comprehensive loss of $7.4 million.\n<\/li>\n<li>\nFor the fiscal year ended December 31, 2024, the Company received $277.8 million of recurring cash distributions from its investment portfolio, or $2.88 per weighted average common share.\n<\/li>\n<\/ul>\n<p><b>FIRST QUARTER 2025 PORTFOLIO ACTIVITY THROUGH JANUARY 31, 2025 AND OTHER UPDATES<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nAs previously published on the Company\u2019s website, management\u2019s estimate of the Company\u2019s NAV per common share is between $8.28 and $8.38 as of January 31, 2025.\n<\/li>\n<li>\nReceived $71.5 million of recurring cash distributions from the Company\u2019s investment portfolio. As of January 31, 2025, some of the Company\u2019s investments had not yet reached their payment date for the quarter.\n<\/li>\n<li>\nDeployed $59.2 million of net capital into CLO equity, CLO debt, loan accumulation facilities and other investments.\n<\/li>\n<\/ul>\n<p><b>DISTRIBUTIONS<\/b><\/p>\n<p>\nAs previously announced, the Company has declared the following monthly distributions on its common stock, 6.50% Series C Term Preferred Stock due 2031 (the \u201cSeries C Term Preferred Stock\u201d), Series D Preferred Stock and Series F Term Preferred Stock.<sup>6<\/sup><\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwtopsingle bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth25 bwrowaltcolor1 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nSecurity\n<\/p>\n<\/td>\n<td class=\"bwtopsingle bwsinglebottom bwpadl0 bwalignc bwwidth25 bwrowaltcolor1 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nAmount per Share\n<\/p>\n<\/td>\n<td class=\"bwtopsingle bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth25 bwrowaltcolor1 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nRecord Dates\n<\/p>\n<\/td>\n<td class=\"bwtopsingle bwsinglebottom bwrightsingle bwpadl0 bwwidth25 bwrowaltcolor1 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nPayable Dates\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth25 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nCommon Stock\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignc bwwidth25 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n$0.14\n<\/p>\n<\/td>\n<td rowspan=\"4\" class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth25 bwvertalignm\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nFebruary 10, 2025,\n<\/p>\n<p class=\"bwalignc bwcellpmargin\">\nMarch 11, 2025\n<\/p>\n<p class=\"bwalignc bwcellpmargin\">\nApril 10, 2025,\n<\/p>\n<p class=\"bwalignc bwcellpmargin\">\nMay 12, 2025\n<\/p>\n<p class=\"bwalignc bwcellpmargin\">\nJune 10, 2025\n<\/p>\n<\/td>\n<td rowspan=\"4\" class=\"bwsinglebottom bwrightsingle bwpadl0 bwwidth25 bwvertalignm\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nFebruary 28, 2025,\n<\/p>\n<p class=\"bwalignc bwcellpmargin\">\nMarch 31, 2025\n<\/p>\n<p class=\"bwalignc bwcellpmargin\">\nApril 30, 2025,\n<\/p>\n<p class=\"bwalignc bwcellpmargin\">\nMay 30, 2025,\n<\/p>\n<p class=\"bwalignc bwcellpmargin\">\nJune 30, 2025\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth25 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nSeries C Term Preferred Stock\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignc bwwidth25 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n$0.135417\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth25 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nSeries D Preferred Stock\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignc bwwidth25 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n$0.140625\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth25 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nSeries F Term Preferred Stock\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignc bwwidth25 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n$0.166667\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p>\nAdditionally, as previously announced, the Company has declared the following monthly distributions on its Convertible Preferred Stock.\n<\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwtopsingle bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth25 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nSecurity\n<\/p>\n<\/td>\n<td class=\"bwtopsingle bwsinglebottom bwpadl0 bwalignc bwwidth25 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nAmount per Share\n<\/p>\n<\/td>\n<td class=\"bwtopsingle bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth25 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nRecord Dates\n<\/p>\n<\/td>\n<td class=\"bwtopsingle bwsinglebottom bwrightsingle bwpadl0 bwwidth25 bwrowaltcolor1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nPayable Dates\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth25 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nSeries AA Convertible Perpetual Preferred Stock\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignc bwvertalignm bwwidth25\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n$0.145834\n<\/p>\n<\/td>\n<td rowspan=\"2\" class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth25\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nFebruary 10, 2025,\n<\/p>\n<p class=\"bwalignc bwcellpmargin\">\nMarch 11, 2025\n<\/p>\n<p class=\"bwalignc bwcellpmargin\">\nApril 10, 2025,\n<\/p>\n<p class=\"bwalignc bwcellpmargin\">\nMay 12, 2025\n<\/p>\n<p class=\"bwalignc bwcellpmargin\">\nJune 10, 2025\n<\/p>\n<\/td>\n<td rowspan=\"2\" class=\"bwsinglebottom bwrightsingle bwpadl0 bwwidth25\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nFebruary 28, 2025,\n<\/p>\n<p class=\"bwalignc bwcellpmargin\">\nMarch 31, 2025\n<\/p>\n<p class=\"bwalignc bwcellpmargin\">\nApril 30, 2025,\n<\/p>\n<p class=\"bwalignc bwcellpmargin\">\nMay 30, 2025,\n<\/p>\n<p class=\"bwalignc bwcellpmargin\">\nJune 30, 2025\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth25 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nSeries AB Convertible Perpetual Preferred Stock\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignc bwvertalignm bwwidth25\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n$0.145834\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p>\nThe distributions on shares of the Convertible Perpetual Preferred Stock reflect an annual distribution rate of 7.00% of the $25 liquidation preference per share and accumulate from the date of original issue.\n<\/p>\n<p><b>CONFERENCE CALL<\/b><\/p>\n<p>\nThe Company will host a conference call at 10:00 a.m. (Eastern Time) today to discuss the Company\u2019s financial results for the quarter and full year ended December 31, 2024, as well as a portfolio update.\n<\/p>\n<p>\nAll interested parties may participate in the conference call by dialing (877) 407-0789 (toll-free) or (201) 689-8562 (international). Please reference Conference ID 13750806 when calling, and the Company recommends dialing in approximately 10 to 15 minutes prior to the call.\n<\/p>\n<p>\nA live webcast will also be available on the Company\u2019s website (<a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.eaglepointcreditcompany.com&amp;esheet=54210568&amp;newsitemid=20250220044639&amp;lan=en-US&amp;anchor=www.eaglepointcreditcompany.com&amp;index=1&amp;md5=c0c6d9a3eb1610f5b94d1c1ca56a3c88\">www.eaglepointcreditcompany.com<\/a>). Please go to the Investor Relations section at least 15 minutes prior to the call to register, download and install any necessary audio software.\n<\/p>\n<p>\nAn archived replay of the call will be available shortly afterwards until March 21, 2025. To hear the replay, please dial (844) 512-2921 (toll-free) or (412) 317-6671 (international). For the replay, enter Conference ID 13750806.\n<\/p>\n<p><b>ADDITIONAL INFORMATION<\/b><\/p>\n<p>\nThe Company has made available on the investor relations section of its website, <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.eaglepointcreditcompany.com&amp;esheet=54210568&amp;newsitemid=20250220044639&amp;lan=en-US&amp;anchor=www.eaglepointcreditcompany.com&amp;index=2&amp;md5=4d29ce46b394fe638d9378ca87093720\">www.eaglepointcreditcompany.com<\/a> (in the financial statements and reports section), its 2024 Annual Report, which includes the Company\u2019s audited consolidated financial statements for the period ended December 31, 2024. The Company also published on its website (in the presentations and events section) an investor presentation, which contains additional information about the Company and its portfolio for the quarter and year ended December 31, 2024. The Company has filed these reports with the Securities and Exchange Commission (\u201cSEC\u201d).\n<\/p>\n<p><b>ABOUT EAGLE POINT CREDIT COMPANY<\/b><\/p>\n<p>\nThe Company is a non-diversified, closed-end management investment company. The Company\u2019s primary investment objective is to generate high current income, with a secondary objective to generate capital appreciation, primarily by investing in equity and junior debt tranches of CLOs. The Company is externally managed and advised by Eagle Point Credit Management LLC.\n<\/p>\n<p>\nThe Company makes certain unaudited portfolio information available each month on its website in addition to making certain other unaudited financial information available on its website (<a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.eaglepointcreditcompany.com&amp;esheet=54210568&amp;newsitemid=20250220044639&amp;lan=en-US&amp;anchor=www.eaglepointcreditcompany.com&amp;index=3&amp;md5=adb7e3e74c782e01586e17d8c6cd7efe\">www.eaglepointcreditcompany.com<\/a>). This information includes (1) an estimated range of the Company\u2019s NII and realized capital gains or losses per share of common stock for each calendar quarter end, generally made available within the first fifteen days after the applicable calendar month end, (2) an estimated range of the Company\u2019s NAV per share of common stock for the prior month end and certain additional portfolio-level information, generally made available within the first fifteen days after the applicable calendar month end and (3) during the latter part of each month, an updated estimate of NAV, if applicable, and, with respect to each calendar quarter end, an updated estimate of the Company\u2019s NII and realized capital gains or losses per share for the applicable quarter.\n<\/p>\n<p><b>FORWARD-LOOKING STATEMENTS<\/b><\/p>\n<p><i>This press release may contain \u201cforward-looking statements\u201d within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described in the prospectus and the Company\u2019s other filings with the SEC. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.<\/i><\/p>\n<p><sup>1<\/sup> \u201cPer weighted average common share\u201d is based on the average daily number of shares of common stock outstanding for the period and \u201cper common share\u201d refers to per share of the Company\u2019s common stock.<br \/>\n<br \/><sup>2<\/sup> NII does not reflect distributions and amortization of offering costs on the Series D Preferred Stock and the Series AA\/AB Convertible and Perpetual Preferred Stock (collectively with the Series D Preferred Stock, the \u201ctemporary equity\u201d) of $0.01 per weighted average common share.<br \/>\n<br \/><sup>3 <\/sup>\u201cRecurring cash distributions\u201d refers to the quarterly distributions received by the Company from its CLO equity, CLO debt and other investments and distributions from loan accumulation facilities in excess of capital invested and excludes funds received from CLOs called.<br \/>\n<br \/><sup>4<\/sup> \u201cWeighted average effective yield\u201d is based on an investment\u2019s amortized cost whereas \u201cweighted average expected yield\u201d is based on an investment\u2019s fair market value as of the applicable period end as disclosed in the Company\u2019s financial statements, which is subject to change from period to period. Please refer to the Company\u2019s quarterly unaudited financial statements for additional disclosures.<br \/>\n<br \/><sup>5<\/sup><sub \/>Over the long term, management expects to generally operate the Company with leverage within a range of 27.5% to 37.5% of total assets under normal market conditions. Based on applicable market conditions at any given time, or should significant opportunities present themselves, the Company may incur leverage outside of this range, subject to applicable regulatory limits.<br \/>\n<br \/><sup>6<\/sup> The ability of the Company to declare and pay distributions on stock is subject to a number of factors, including the Company\u2019s results of operations. Distributions on stock are generally paid from net investment income (regular interest and dividends) and may also include capital gains and\/or a return of capital. The actual components of the Company\u2019s distributions for US tax reporting purposes can only be finally determined as of the end of each fiscal year of the Company and are thereafter reported on Form 1099-DIV.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250220044639r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20250220044639\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20250220044639\/en\/<\/a><\/span><\/p>\n<p>\nInvestor and Media Relations:<br \/>\n<br \/>ICR<br \/>\n<br \/>203-340-8510<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:IR@EaglePointCredit.com\">IR@EaglePointCredit.com<br \/>\n<\/a><br \/><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.eaglepointcreditcompany.com%2F&amp;esheet=54210568&amp;newsitemid=20250220044639&amp;lan=en-US&amp;anchor=www.eaglepointcreditcompany.com&amp;index=4&amp;md5=655be5ffda498059a690e6090ba3b2ea\">www.eaglepointcreditcompany.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> United States North America Connecticut<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Finance Banking Professional Services Other Professional Services Asset Management<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20250220044639\/en\/1866556\/3\/ECC_Logo.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Eagle Point Credit Company Inc. Announces Fourth Quarter and Year-End 2024 Financial Results GREENWICH, Conn.&#8211;(BUSINESS WIRE)&#8211; Eagle Point Credit Company Inc. (the \u201cCompany\u201d) (NYSE: ECC, ECCC, ECC PRD, ECCF, ECCU, ECCV, ECCW, ECCX) today announced financial results for the quarter and fiscal year ended December 31, 2024 and certain additional activity through January 31, 2025. \u201cWe remain proactive in managing our portfolio and balance sheet,\u201d said Thomas P. Majewski, Chief Executive Officer. \u201cDuring the fourth quarter, we reset 16 and refinanced 2 of the Company\u2019s CLO investments, lengthening the weighted average remaining reinvestment periods of the reset CLOs and lowering the cost of debt financing in all 18 CLOs. By exercising our majority rights, we are laying the foundation for &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/eagle-point-credit-company-inc-announces-fourth-quarter-and-year-end-2024-financial-results\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Eagle Point Credit Company Inc. Announces Fourth Quarter and Year-End 2024 Financial Results&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-815508","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Eagle Point Credit Company Inc. 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(the \u201cCompany\u201d) (NYSE: ECC, ECCC, ECC PRD, ECCF, ECCU, ECCV, ECCW, ECCX) today announced financial results for the quarter and fiscal year ended December 31, 2024 and certain additional activity through January 31, 2025. \u201cWe remain proactive in managing our portfolio and balance sheet,\u201d said Thomas P. Majewski, Chief Executive Officer. \u201cDuring the fourth quarter, we reset 16 and refinanced 2 of the Company\u2019s CLO investments, lengthening the weighted average remaining reinvestment periods of the reset CLOs and lowering the cost of debt financing in all 18 CLOs. By exercising our majority rights, we are laying the foundation for &hellip; Continue reading &quot;Eagle Point Credit Company Inc. 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